With the Iraq becoming increasingly more stable, coupled with its "open door" policy towards western oil companies, WFT and its large Mid-East footprint are poised to profit from this virtually untapped reservoir that rivals Saudi Arabia's.
Thanks to a Mexican supreme court ruling on Tuesday, Pemex now has the ability to offer the foreign oil companies more of an incentive to come down to Mexico. While the state will continue to own the oil, the government is allowing Pemex to pay foreign oil companies a fee on each barrel of oil they extract. That differs from the old system where they would be paid a flat fee for completing the project. In return, the oil companies would agree to share in the risk by absorbing 25% of the exploration and development costs.http://money.cnn.com/2010/12/09/news/international/Mexico_oil.fortune/?section=magazines_fortune